Investment Service and Product Launches
California ABLE program selects Vestwell for disability savings; Embark launches automated investing platform; and more.
News
Labor Secretary Walsh Departing to Lead NHL Player Union
The DOL confirmed reports that Walsh will depart in mid-March; deputy secretary Julie Su will serve as acting secretary.
60/40 Portfolio Can Be Improved With Creative Use of Alternatives, Experts Say
After stock-and-bond “bloodbath” in 2022, retirement savers may want to rework the old 60/40 return model.
SEC Adopts Settlement Cycle Rule, Proposes New Custodial Rule
The rules, adopted and proposed, respectively, by 3-2 margins, were partially informed by recent scandals.
Adviser Product Partnerships
Lincoln and BPAS partner on DB offering; UNest and Wealth combine kid investing and estate planning; Welton and iCapital team...
SEC Wants Enhanced Protections on Crypto, Other Adviser-Managed Investments
The proposed changes would amend a custodial rule requiring cryptocurrency exchanges to be run by qualified custodians.
Retirement Industry Pushes Back on SEC Swing Pricing Proposal
Industry groups filed arguments saying the proposal, intended to put greater burden on “first mover” traders of open-ended funds, would...
Federal Judge Nixes DOL Rollover Guidance Interpretation
A U.S. District Court judge ruled that Department of Labor guidance violated the Administrative Procedure Act.
High Inflation Takes a Toll on Employees’ Financial Well-Being
Inflation, which remains elevated as of Tuesday's CPI report, has led to increased stress, less financial preparedness and growing debt,...
Bridging the Racial Retirement Gap: A Conversation With Spencer Williams
The CEO and president of the Retirement Clearinghouse talks about his decades-long project with Bob Johnson to implement 401(k) auto-portability.
DE&I Initiatives: Are They Working?
Retirement advisory firms have been working to implement diversity, equity, and inclusion programs for years, but have they been effective?
DE&I in a Hybrid World
Women, parents, and people of color are opting in to remote work at higher rates than their peers, but some...
Collective Trusts Expected to Top Mutual Funds as Primary Target-Date Vehicles in 2023
Most target-date providers saw losses in 2022, with gains coming mostly from CIT-based funds.
Empower Joins Auto Portability Consortium
The Retirement Clearinghouse-led consortium now includes the country’s four largest recordkeepers.
DOL: More Time to Comment on Fiduciary Correction Program
The Department of Labor has extended the public comment period for a program that would allow fiduciaries to self-correct for...
Advisory M&A
Cetera invests in $1.7B Kansas-based advisory; Atria snags two adviser practices from LPL; and more.
Retirement Industry People Moves
Lincoln Financial Group names Vince Garzarella VP; Northern Trust Asset Management names new presidents; Empower promotes Noble to general counsel;...
Will RMD Age Increases Cause ‘Abandoned’ Property Problems?
SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Putnam Adds Sustainable Retirement TDFs
Putnam brings its first ESG-focused target-date series to defined contribution plans, with plans for further choice, personalization.
529 Flows Dip to $1.5B, But Still Strong Amid Market Volatility
As of the fourth quarter of 2022, the total market for 529 savings plans rose to 16 million accounts with...